As in any other aspect of our lives, looking back at the past year and our accomplishments and fulfillments (or sometimes, unfortunately, non-fulfillments) at our job as Product Managers, we all wonder what should our professional New Year’s Resolutions be.
What I personally try to do is look at how the arena of Product Management is changing and, based on that, come up with the areas I should focus on. I then do my best to clarify and quantify them to the extent that they are comprehensive and measurable for me!
Here are my three 2020 New Year’s Resolutions.
1. Owning My Product: This year I will develop a deep understanding of my product’s value points (how it generates value to my customers) and better understand the relationship with the Product Owner. Here’s how I see it:
2. Being As Data-Driven As I Can: This year I will establish data-driven KPIs that will evaluate my product management performance. I will identify the top areas in which I need to improve and turn them into KPIs:
CET KPIs: Count the number of interaction I have with customers, or how much of my time with customers is CET (Customer Exploration Time), i.e. time I spend exploring customer needs, pains, and values (NOT selling to the customer, NOT trying to manage a customer’s crisis, NOT helping someone else in the organization). I think about CET as my quality time with my customers!
Competitor KPIs: Define my top five competitors (direct and indirect) and identify how they rank against my product on the top five value points. Ask myself: how well do I know this 25-point map?
Monetization KPIs: Measure my ability to build a business case. Rate myself on a scale of 1 to 5 on how well I know it.
Product Objective Board KPIs: Build my Product Objective Board – key parameters from my business case which I examine on a weekly or a monthly basis.
3. Understanding That I Too Am A Product: This year I will think of MYSELF as a product. How much do I invest in making myself a better Product Manager? Can I build KPIs that are focused on making ME a better Product Manager?
What are your 2020 New Year’s Resolutions?